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tv   Fast Money Halftime Report  CNBC  March 21, 2012 12:00pm-1:00pm EDT

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>> lots of bernanke, lots of t geithner. let's get to the "fast money half time report" back at qc. >> four hours to the close, this is where we stand at this hour on wall street. we see a mixed picture. nasdaq slightly bucking that trend. good for 3 1/2 points at 10% to the upside. crude oil is up by 1% over $107 a barrel. that's on the wti side. brent is up as well. gold moving higher at 1652. let's get to our fast five stories. the top one we're watching today. buying opportunity of a lifetime. goldman sachs says you should be getting out of bonds and stocks right now and they are calling it the best opportunity in a generation. the traders will weigh in. the whitman makeover. we're trading hp.
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combining the pc businesses. crude spiking above $107 today but could it soon hit 200 kate kelly has that story. starbucks is playing nice with green mountain. welcome to the "fast money half-time report." peter oppenheimer saying the prospects for future returns on equities relative to bonds are as good as they have been in a generation. you look at the bullet points today. joe terranova, good-bye bonds, good-bye stocks. it's a big call. some will say maybe it's a little late considering where we are off the bottom. nonetheless, it's a call on the street today. >> i think it's a call that is
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focused more towards the passive market. i think the ultimate tale on this, a new quarter is about to be introduced. will you see this reallocation trade that many have expected out of bonds into equities? and i believe you can. you have a u.s. tenure moving towards 2.35, 2.40%. even if you look in europe, you're seeing the german ten-year, which was around 1.75. that got above 2%. the safe havens are not the place thaw want to be but the real tale is going to be in the next quarter. >> cortez, if there's anyone on the panel that takes issue with this goldman call, perhaps it's you. mr. oppenheimer talking about unprecedent weak returns and the valuations being incredibly
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attractive as well. obviously you know about the report. you saw it. do you agree with it? >> scott, i do not at all. here's my primary problem. his premise of stock performance. too much occurred in the rally that started in the early 1980s. we had an incredible rally from 1982 until roughly 2007. most of that rally was not because of the underlying fundamentals of stocks versus bonds. it was because of demographics. we had the baby boomers getting into the most productive years. he's not saying anything over the next couple of months. he's looking at years and decades. if we look at years and decades, we now see the opposite effect where the boomers are not effective, they are retiring and saving. if anything, this is a time when bonds will continue to do extremely well. and for the near term, i started buying bonds. bonds have been absolutely destroyed. bonds are doing well today. i think it's a start of resurgence for the near term. i would point out that equity bulls want to have it both ways.
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the reasons you had to buy stocks is because rates are so low. now they are rising and they say, money is coming out of the stock market. i don't think they are both good for stocks. that's just not credible. >> joe? >> i've just got to ask you, you have a market when you look at the cyclical trade, you look at russell, nasdaq, apple continuing to perform well. you have an equity proving well to the bear thesis. the next leg is the income side. steve, the ultimate question that i have for you, is how does a market that continues to rise and rise and rise can you play that thesis? it's not that credible. the tape is proving you wrong. >> to play what thesis? >> there's no belief that its value lid or it's not true or it's going to fall apart at a moment's notice which, in essence, is what you are saying. >> no, i've been for the most
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part very balanced in my positions. i've had longs and shorts. >> i'm not talking about your positions. i'm just talking about the moment right here. do you stay with the equity's rally or do you move away from it and as you said, go all in on bonds. >> as a trader do you buy bonds right now? yes. >> does that mean you are out of equities? >> i'm both long and short on equities. look, as a trader you never have to be all in on everything. you can have bets all over everything. one of the most compelling bets near term is on bonds and big picture, the goldman report ignores the massive force of demographics which no longer enforces their argument. >> let's put up the chart of p.e. being in the sweet spot and what mr. oppenheimer is gleaming from that. you have a 4% return over three months, 28% over one year, 53% over two year.
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and 98% over five years when glo global p.e.s are between 10.6 and 11.1. >> i'd love to say that you could make money on bonds and equities but joe has been on this for quite some time now. if you look at m.o., you're yielding over 5%. you look at dominion, you're yielding over 4%. i think baby boomers will wind up going back into equities and searching for yield. ultimately the better bet here is equities for the longer haul. >> scott? >> the majority of the marketplace that wants exposure to stocks are baby boomers. right now it's low and if you look at the middle of that chunk it was a huge volatile moch. will you particular with those and can baby boomers trust that?
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i think you need to move options to control that risk. volatility is low. and the fact of the matter is, i'm a statistics kind of guy. you mentioned those p.e.s, that looks really good for stock. especially if you get gdp growth. 2 to 3%. in the fall time people are pricing in zero growth. you ultimately have to move higher and that's what they are doing. >> absolutely. but the problem is my great aunt gertrude is not going to buy volume right now but she will hunt for the dividend plays. that's why every time you see the market. >> i want to wrap up the conversation with one more comment and that's going to come from terranova.
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>> you've seen multiple expansion in the marketplace, which is good. the other side of that, to what steve is saying, if you see significant contraction in the next quarter earnings as problematic, i'm not going after steve and his positioning here. what i'm saying is, to continue to stay in bonds, it's now a binary decision. you have to believe that equities are overvalued and are about to get obliterated. no longer can you say it's about deflation or absence of growth. you're seeing improvement in u.s. labor and economic conditions get better. you stay in bonds, you stay in s b think equities are going to get obliterated. >> let's move on to our next trade. today. is this part of meg whitman's plan to give the company a makeover? welcome to the program. >> i don't think it's a bad
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move. it just doesn't address the big structural issues that hp has. >> aren't both of those businesses slowing? >> yes. pcs are slowing structurally, the pc market is slowing. if you look at the printing market, consumer printing is in full-blown decline. combining two declining businesses to me is not necessarily a way of fixing them. it's trying to cut head count and costs. if you look at hp, they've got to do a lot more than that. >> if you look at consumer printing and commercial printing, and it doesn't help at all. again, if you look at it,
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enterprise and into services, shifting a few things and rehorg there or re-org there doesn't address the situation and it's a real structural situation to have to fix. it makes one think that hp doesn't get how big the problems are. >> steve grasso? >> rob, you're actually mirroring what i'm going to say and there's nothing that drivers traffic through the stores. is it basically that we're watching in a different way, shape, or form, the same story that happened with r.i.m.m.? >> i mean, it's a little different than r.i.m.m. because -- >> all of these factors but is there anything -- is there a lifeboat now for hul let? >> i think to your r.i.m.m.
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point, you have to look at hp and feel the same possible problem could happen. where you start at is hp has a lot of market share and the risk has become that they are so big. that means they could start losing share and there's a long way to go down. >> rob, dell is in your universe as well. i want you to stay with us because those shares are up 17%. let's get your reaction to this as well. >> we like dell a lot. i believe it's greatly misunderstood. when it m coulds to creating content, using proprietary content, software systems, you really can't fully substitute for the pc. >> bullish on dell of late, what's your take here on where dell goes from here? is it as attractive as these
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guys think it is. >> so i don't dislike dell as much as i dislike hp and underrating -- an equal rate on dell. i think dell is doing the right things giving the hand it has been dealt. there are different stocks out there so i wouldn't be putting my money there. pcs are not a growth business but they are not a horrible business. pcs get dell in the door and they are trying to fill that sales pipe with other stuff, being storage servers, software, that type of thing. the problem is, because i think dell is doing the right thing, i want all of the stock. >> right. >> not coincidental when you see the declines in hewlett-packard, it's a name that i continue to believe in, do they continue to benefit, in essence, the perils of hq at the ultimate play? >> i think so, yes. i think ibm has benefitted from two things.
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one is, frankly, the worst hp looks, the better ibm looks. it's a lot of big cap tech companies where big tech cap companies have not been performing. is harder than it looks and ibm is one of the few that will be able to do it. they are really at the high value end of the spectrum. i mean, it's high end of the systems software services and ibm started that, you know, journey over ten years ago. hp hasn't even begun. >> rob, thanks so much. we'll talk again soon. >> yes. thank you for having me. >> are you still adding to your hp position? >> oh, no. no. no. no. we got beaten up significantly and it's one of the best segments and part of what trading is all about. you get out the next day and don't ask questions. stocks down 4.5 since then. >> we've been sticking with ibm
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recently. i agree on both parties, joe has talked about ibm benefiting from hp's decline and i.t. software and if you want to reduce your risk, it's a $200 stock here. so you're outlining a lot of cash to get into the stock. buying some in the money calls to ibm, if you want to play it, use less cash and define your risk to get into ibm. >> technology, by the way, has been one of the strong markets. s&p going positive. cortez, look, if the market is overwhelmingly against a name like hewlett-packard which is seems to be of late, are you positive of it, given your con tear general nature? >> this one has typically underperformed, even more than dell. hp is not a name, unfortunately,
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that i cannot get behind. rising fuel costs hit fedex's bottom line? we're taking positions today ahead of its report tomorrow. how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea.
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welcome back. let's look at the volatility. they are at new lows as the vix is around 15 or thereabouts in recent days has been as low as 14 and change. joe, let me get a comment on you from what we've been seeing with some of the etfs. >> i think it's a favorable environment when you buy that insurance real cheap and it continues to work, volatility continues to contract and when you look out in the future right now, in particular the small caps, the russell which is doing very well today, that gives us a chance to buy cheap, cheap protection. >> scott? >> we have seen the volatility really come in here and we've been seeing a tremendous amount of flow recently, at least over the last month, into the vix,
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and tremendous assets coming into that space at the end of february. like joe said, you can stick with the stock market, continue to own stocks and buy insurance on the portfolio. you buy it on your stocks so you might as well buy it on your portfolio. let's get a real-time trade now from jeff kilberg who is joining us on the fast line. what did you buy? >> after we saw an historic statement with the supply, the first time we've seen that average, the very, very big move down in the etf to put crude oil in, i've had this 40, 50 level. he pointed out the fact that saudi arabia made this statement. it must be something really bad coming down the pipe. kudos to dan. the uso as i continue to be bullish, it seems like 110 in
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crude oil is not only imminent but it's inevitable. >> what do you think about that? >> i like the trade and i like the fact that the trade has been done in the uso. right now if you're investing in energy equities, you are not getting the performance. it's been difficult and problematic to try to figure out how to get your exposure. it's become an oils futures trade. i would caution that there was a similar scenario back in 2008 in the second quarter where you had oil futures continue to rise and energy priced higher and valuations got rich and no longer could energy equityies rise. i think jeff is properly positioned here in the uso and i think you have to look at oil futures rises as a head wind and look at the fact that energy equities are not performing. that could be telling you something down the line over the next six to eight weeks. >> the issue of oil is a perfect
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segway into our next trade. it's fedex will those rising fuel costs hit the bottom line? let's welcome in peter, analyst at jeff reece that comes to us on the fast line. welcome to the show. >> you bet. >> how about that issue of oil becoming a potential headwind for fedex and others? >> i think there are going to be three things that come into focus on fedex's print. first, the trend out of asia, the fedex is highly sensitive to this line item and some of the macro data points out of domestic china have been weak. secondly, the impact of fuel on the quarter. now, over time, fuel for fedex like other transports, is a pass-through. there is a timing difference of six weeks between when fuel prices go up and when fedex recaptures that in the surcharge revenue. there is a second more subtle impact, though, and that's the risk to demand construction to
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overnight express volumes when prices go up and surcharge goes up as well. and i think the third time that comes up tomorrow, people are focused on any data points around fedex's view on the merger monday morning. >> that's where i wanted to go next. what do you think fedex's response -- and i'm not talking about the response on the conference call. >> i don't think you're going to see a competing bid. this has been in the pipeline for quite some time. i actually posed this question to the company about a year ago and asked if t and t shares were to drop significantly following the spinoff, why wouldn't you bid on this asset? and i think there is two interesting points that said that number one structurely you can drive one truck to the other side and it's price competitive. fedex likes to fly planes and fly long ways. the other element about t and t
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that fedex does not like is the relative lack of flexibility. ups has more experience dealing with the teamsters. >> one of my traders, steve grasso, has a question for you. >> if you look at ups and the amount of employees and the amount of 200 employees in service. 100 of them have anti-trust regulations. why is ups so confident there are not going to be any anti-trust issues? >> i'm not particularly an expert per se but what would i say is if you look at the definable markets, there are a lot of substitute products. i think at the end of the day ups struck a great deal. they did this deal about 10% cheaper than what the market
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anticipated and it's more than twice that what people were anticipated. i think this is a good deal for ups. >> you have a hold on shares of f fedex. do you prefer ups? >> well, what i would say is that the ups makes it transformational. you're playing it for some pretty sizeable merger integration savings over the next several years and that removes the stock from being a cyclical play. >> hands down, expediters. we think asia air freight is at or near bottom i think we're going to get data points out from fedex about that. this is about u.s. consumption about asia good, i think you're
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going to see it push through positive territory around april. >> peter, good stuff. thanks for coming on. >> you bet. >> i like expediters. there is move to run. >> anybody have a quick comment on fedex or ups, which they prefer? >> you're going to see a lot of speed bumps. i'd rather stay with fedex. >> time now for pops and drops. let's talk about linkedin. the stock getting a pop today. 8%. >> we talk about that all the time. it annoys me because on an evaluation basis, linkedin continues to trade higher and i've tried to short it in the past and it hasn't worked that well. i try to stay away from the name. >> laker hughes? >> you're going to see it drop from 19% to grass drilling being minimized. 08 bucks in july.
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>> drop for chesapeake, 1% decline today. >> talk about a fast money trade. yesterday on the 5:00 prk .m. i was my final trade. at this point there are other ways to leverage it with crzo. >> deutsch bank? >> scott, european financials are very weak today. i continue to like the idea of honing u.s. financials on goldman sachs and shorting europe bean once again. i did that. >> and a pop for vibrating tattoos. ever miss a call because you can't feel your phone buzz? a patent for a vibrating tattoo, using implanted magnetic ink that responds to incoming calls. next up on "the half time report," how the european close could impact our trading day
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welcome back to the fast money half time report. you have the ftse 100 which is up 5% year to date. in fact, more than 5%. the dax is up 19.9% and we're seeing some weakness in europe because the shares earlier on today were sitting around 1 one-week low and the stock index
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all right. welcome back to the halftime show. today we're working on the trades halfway through the session. first up, google trading up by 1.5% today. >> google is an interesting name. even like a priceline trading at 33 times ratings, versus is google 21. google flights, if you haven't checked that out, that thing is awesome. they can do anything that their peers can do, even better.
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>> right. take a look at shares now of lion's gate hitting an all-time high with all of the anticipation of the hunger games release coming this weekend. grasso, you have something on this one? >> yeah. since their acquisition of summit entertainment, they have increased their library and content providers with the streaming wars going on, i'd still be a buyer of lion's gate. >> joe, you know, general mills is seeing the same problems, right? these rising input costs and it's hurting margins. >> and i think it's the reason why. i don't want to stop the stock because it's not as bad as feared here with general mills. february 17th, management told you in essence what the estimates for earnings were going to be. u.s. sales growth were not as bad as analysts feared. but as you said, commodity inflation, i think it's going ton a consistent theme. it's a reason i don't buy the stock. >> sticking with the forecast, it was a lowered forecast.
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you have to put that in perspective. they are staying with it? >> and over the last couple of weeks we priced that into the stock. >> so-called crude prices hit $200 a barrel. kate kelly is here to go inside that trade. >> brent crude often seen for the hedge fund community and some of the traders i know, as you said, betting on $200 a year. based on the potential of a supply shortage. notwithstanding the shortage out of saudi arabia, the fact that libyan oil is in fact online. there is still talk about a jarring supply shortage as we head into the driving season which runs from april to august. that, of course, is fueling about the cost for a new tap of
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strategic petroleum reserve to help the tight supply. as you look at the charts from last june, prices dipped only briefly before the predraw dawn level. there is nothing but election-omics. for now, the price of physical oil is increditly tight and a scenario known as backwardation. the fundamentals will continue to tighten. you know, 130, 200, either way, people certainly expect more upside. >> i want joe involved in the conversation. how do you mesh these thoughts together? the saudis and fundamentals tightening as kate was bringing up? >> i think there's no demand
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story a lot better than the analyst expected going back into 2012 and it's important to understand that we really haven't come into the strong period here for oil and above 110 and above 115 and you wonder what the motivation is going to be institute fully this is a fubd mentally picture and you've essentially got supply and demand very close together. the issue since last year and before has been spare capacity which, depending on who you talk so is two to four million
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barrels worldwide. >> lastly, i'll make this point and the demand is speculator and it's china. >> thanks so much. >> thank you. >> good to see you, as always. >> copper prices could be buying up shares for mack mcmoran. let's bring in an analyst from credit suisse. thank you for joining us. >> thank you. >> why is the stock so underperformed? >> i would say the primary reason is issues in indonesia. that ended in december and we've had continued issues this quarter. they've come out and already quantified that order. going forward those issues are behind them. >> grasso, you have a question?
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>> could it be another reason -- and joe has spoken to this as well. people use freeport as their only play on copper. could it be that the average investor winds up selling freeport whenever they see a china growth headline versus the actual copper? >> our view is that there is reacceleration in the commodity demand and that should help near-term weakness and it drives our expectations for copper prices to rise for 2012. >> richard, it's steve cortez. freeport is a name i've been short i agree with you it's oversold relative to copper but my question is this.
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copper has been unchanged during that time of the s&p rallying 75 points. should it catch up to copper, i can understand that analysis. that doesn't exactly mean that is t goes gang busters. do you think it can actually start to catch up to the historically copper and freeport shares have had a high correlation of .9. it's dropped significantly since the grassberg issues to .7. and, second, i think going forward it's going to depend on china and there's a lot unearn certainty. going forward people are going to look at the data in march and april and if we are getting
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reacceleration there. >> what do you make of bhp? it's sort of spooked the market because it raised concerns yet again because of the topic that we're discussing and that's china. >> well, you know, our commodities team believes there was nothing new in that release and presentation. that's our view at this point. i think you've got to look at the actual data that comes out and we've got copper imports so far. imports were up significantly. second highest level we've seen in the past ten years. so i think that's a positive sign as well. >> i've got to run. give me the best name in the universe, the one you like more than any other and we'll debate it here on the desk. >> i think freeport is going to work here. the weakness has been overdone and going forward that's what we will look at. i like reliance steel on the steel side. >> thank you so much. >> thank you. >> what do you think? best ins class, at least in his class. >> he makes a good point. free port, breaking stocks to
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sell over a recent month, it's a good time to pick of freeport. it's jumped to the top of our list. however, cortez makes a good point. copper prices have struggled to get over the 395 level. that's a level i'm looking at. if we can get above there, it benefits freeport and i think freeport catches up to the rest of the s&p. until then i'm catching up with freeport. herb's take on why green mountain and starbucks is playing nice. looking for a better place to put your cash? here's one you may not have thought of: fidelity. now you don't have to go to a bank to get the things you want from a bank. like no-fee atms -- all over the world.
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coming up next on "power lunch," shareholder meeting starts at the top of the hour. we have an update for you. a deeper dive on fedex. why you need to decide on apple. why the new prius sales numbers may be sending a bolt through the volt. scott? >> sue, thanks so much. resident china bear is taking profit on china short but not totally bearish. let's get an update from steve cortez. steve? >> i think one of the few offtrades that has worked on recent trades, i was short primarily fxi and taking positions this morning, 37 even is a decent support point.
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the story has gotten to be somewhat consensus and once that gets to be the case, i no longer want to be short. we will take those profits and roll them over into china exposed. i focused most on caterpillar. it's starting to breakdown the last couple of days. if it closes below 110 today, that would be problematic. i would look to short a rally. if you short china itself, this is a time to take profits. >> do you agree with either of these? shorting caterpillar because you're afraid of what is happening in terms of growth? >> well, if that's your thesis, that's certainly the correct trade. steve's got a conviction, a trade. i disagree with it. >> the company just announcing it is expanding partnership with starbucks and the single-serve market. herb greenburg is here on that move. shares are moving and it's an interesting story. you've been at the forefront of
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this story from the get-go? >> yeah, and i've had sort of an opinion on the story as it's going forward as a commentary. >> do you think? >> green mountain performance, not withstanding, i do think this deal has a decaffeinated punch to it. starbucks is in the business of selling coffee. the deal puts starbucks coffee in green mountain's new view packs for the new brewer. the important question here is, what are the economics of the deal? the answer? we don't know. but the somewhat comedic and i really think it's a comedy, the timeline of the relationship between the two might hold a bit of a clue. a year ago february when starbucks and green mountain were first negotiating, an irn ten nal memo surfaced, letting it be known that starbucks does not green mountain. fast forward to last month, with the patent on its k-cups set to
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expire, starbucks was noticeably absent as a partner. then, on february 27th, green mountain investor and it is partner in a new single-serve he is press sespresso machine, it economic issues, global economic issues. starbucks announced the machine with a german company as a partner. then the thing got messy with an ak here and ak there. presto, along comes this deal. i have more of this on cnbc.com. i had a hunch of who got the better deal of this, scott. >> right off the top you said starbucks is in the business of selling coffee, right? >> that's right. >> we can agree on that. green mountain is also in the business of selling coffee and this is an effort to protect the
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dominant position that they have in the single serve market. wouldn't you agree? >> i would agree with that to a point. let's not forget that there's o business of collecting money from licensees. we don't know what the deal is. that's an important part of this. >> herb, thanks so much. what are you doing with green mountain or starbucks? cortes -- i don't want to set you up to disagree again, but cortes, you sold your starbucks today. >> i did. i've been long it a long time. i've loved the name. primary reason is because of coffee prices. the etf been in a pronounced down trend for an entire year. but i think j.o. is extremely oversold. and starbucks, i love the name fundamentally. >> why are you getting out of it when you have such conviction about the story, the fundamentals, why are you getting out of it? >> two reasons. it's insanely overbought. 29 outd of the last 30 days technicals very overbought. and on the flip side coffee prices seem to be starting to
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base. they're no longer in free fall. i think it's important if you're long starbucks to at least take some profits. i took profits on the entire position here. >> okay. >> dnkn, dunkin brands, had a great run, pulling back a little. >> next up on the "halftime report," we are trading your tweets when we come back. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ cannot be contained. [ clang ] the all-new 2013 lexus gs.
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and welcome back. i'm darren rovell.
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adam shefter of espn is reporting that tim tebow will be traded from the denver broncos to the new york jets. the new york post saying it will be for a fourth round pick. this is going to bring tim tebow, who was number two in the nfl in jersey sales, very marketable into the new york market though he's not expected to start. the jets of course gave a new contract to mark sanchez. it will be interesting to see how the jets use him and how that will affect the marketing of tim tebow, who is probably the most polarizing character in the sports world. back to you. >> yeah. well, darren, thanks so much. that's going to be a bit exciting here in the new york metro area here, joe. >> so was linsanity. >> that's still going. we're on another winning streak. >> i'm a giants fan. they won the super bowl. >> grasso. >> it's nice to have tebow aboard. welcome. >> that's very nice, steve. maybe you can invite him to the stock exchange. >> we'll leave it there. something tells me he'll get an
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invite. shares jumping after the company says it's exiting annuity business and a portion of its life insurance operation. move coming from shareholder and hedge fund manager john paulson. and the pressure, joe, has been intense. >> he wanted the spin-off. he didn't get everything he wanted. >> not everything, but he's getting something. >> he's getting something. there's been a strategic review over the last year internally at hartford. i think when you look at stock price itself and it's a stock price that's really struggled, lifted here a little bit throughout february in the belief that something would get done. i think it's a sell the moment opportunity though. >> let's trade some of your tweets now. terry walker 33, grasso, your take on lvs. >> i bought las vegas in the low 50s. i sold it a little too soon in the mid-50s. at this point i still think you have more room to run. you're coming up against resistance but the ultimate china growth play. if it breaks off from these levels, you're looking at maybe
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low to mid-60s if it could breech those levels to the upside. i still think it's a buy. >> real images, joe, target for nxpi. >> a name i'm long. how high is high, how low is low? no one knows the answer to those. it just continues to keep going. you put a stop and the stop i'm using is at 25.15. >> coming up, final trades from our team. [ male announcer ] the 2012 m-class continually monitors blind spots, scans the road to reveal potential threats, even helps awaken its driver if he begins to doze. so in the blink of an eye it will have performed more active safety measures than most cars will in a lifetime. introducing the all-new 2012 m-class. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services.
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[ tom ] we invented the turbine business right here in schenectady. without the stuff that we make here, you wouldn't be able to walk in your house and flip on your lights. [ brad ] at ge we build turbines that power the world. they go into power plants which take some form of energy, harness it, and turn it into more efficient electricity. [ ron ] when i was a kid i wanted to work with my hands, that was my thing. i really enjoy building turbines. it's nice to know that what you're building is gonna do something for the world. when people think of ge, they typically don't think about beer. a lot of people may not realize that the power needed to keep their budweiser cold and even to make their beer comes from turbines made right here. wait, so you guys make the beer? no, we make the power that makes the beer. so without you there'd be no bud? that's right.
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well, we like you. [ laughter ] ♪
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we're going to get to final trades in just a second. we just brought you the news that tim tebow traded to the new york jets. there's also word now that new orleans saints coach has been suspended without pay for the entire upcoming football season in the wake of the bounty story. really interesting stuff. follow it throughout the rest of the day. final trades. >> by tesoro. >> grasso. >> freeport. we know the terrible on china hard landing, but at this point any little bit of positiveness out of china, you'll see this

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